A real estate agent, as defined by Cambridge Dictionary, is a person whose business is to arrange the selling or renting of houses, land, offices, or buildings for their owners. While that is a technically accurate definition of a real estate agent, it doesn’t give an accurate description of what a real estate agent does every day. Each day is unique and different for a real estate agent; while this can be an appealing aspect of the real estate profession, it can also offer unique challenges or opportunities, depending on the agent’s skill set. So, just what does a real estate agent do in a typical day?
Managing Your Real Estate Business
There are a number of administrative tasks that are at the core of a well-run real estate business. A good real estate agent:
- Keeps up with local and regional market activity and industry news
- Researches active, pending, and sold listings and reviews the daily MLS Hot Sheet or Activity Report
- Completes, submits, and files paperwork, such as real estate documents, agreements, and records with the proper state agencies
- Plans and coordinates appointments, open houses, showings, and meetings with clients and other real estate agents
- Develops marketing plans for listings and creates fliers, newsletters, and other promotional collateral
- Responds to incoming emails and phone calls
- Update websites, social media profiles, and blogs
Many successful real estate agents have an assistant or office manager to assist with the day-to-day activities, allowing the salesperson or broker to focus on more direct revenue-generating activities.
You’re Not Just Selling Homes, You’re Selling Yourself
Attracting clients is crucial to a real estate agent’s success. Below are some tips to attracting new clients:
- Market yourself. Competition is fierce. You need to develop your niche in the local real estate market and be known as the expert in the type of work you enjoy. This will help differentiate yourself through effective marketing. Websites, postcards, television and radio spots, billboards, fliers, and blogs are all channels that can be utilized in effective real estate agent marketing plans.
- Lead generation. Generate leads through networking and relationship development. This starts with people you know, such as friends, family, business associates, and so on. There is little that is more valuable to a real estate agent then a thriving database of leads.
- Everyone is a prospect. Basically, everyone you meet is a prospective client, because everyone rents, buys, or sells a home at some point. A real estate agent’s day is often consumed by cultivating leads, as well as meeting and following up with potential buyers and sellers.
Ready to be a real estate agent? Sign up at www.nacc.nyc/kaplan. Use the code: Chamber 5 for a discount.